Who gets the credit for today's stock market Obama or Trump?

[Belk]

Trump

Even most of the Democrats in Washington are not mentioning Obama much regarding the stock market today.

M-Bob

Who gets credit for the stock market today?

 

[Rion]

Who gets credit for the stock market today?

Google or Breitbart, since the tech crash happened after BB posted the censorship document leak last night, which shows Google flat out admitting that they are moving towards censorship due to things like Trump getting elected.

 

[Tanj]

Google or Breitbart, since the tech crash happened after BB posted the censorship document leak last night, which shows Google flat out admitting that they are moving towards censorship due to things like Trump getting elected.

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Post hoc ergo propter hoc is a fallacy dude. The tech crash also happened the day after I bought a new car. However the idea that anything from Breitbart could have this kind of impact I'm putting in a new category, the "you have to be kidding me that's a fantasy" fallacy.

 

[Allandavid]

It didn't really start skyrocketing until Trump took office, so I certainly wouldn't be giving Obama the credit for it.

Please indicate where the “skyrocketing” takes place...

Any graph will do...

 

[variant]

Please indicate where the “skyrocketing” takes place...

Any graph will do...

Dow Jones - 10 Year Daily Chart

 

[TLK Valentine]

I would credit that 100% to Trump.

Considering that the Dow nosedived 832 points today, thanks for nothing, Donald...

 

[Allandavid]

Ummm Bob..? Here’s the chart for the DOW over the last 5 years.. perhaps you can point out to me where Trump’s ‘skyrocket’ is launched...??

 

[rambot]

Google or Breitbart, since the tech crash happened after BB posted the censorship document leak last night, which shows Google flat out admitting that they are moving towards censorship due to things like Trump getting elected.

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Why don't we see what experts are saying:
Dow falls 832 points as techs get hit hard - CNN

Tech is taking its lumps because bond yields have climbed in recent weeks, hovering at a more-than-seven-year high.
Although that's largely because the US economy is so strong, the spike in rates for the benchmark US 10-Year Treasury has investors wondering if the near-decade-old bull market may finally be ending.
Higher long-term rates could slow down red hot sectors of the economy, including technology, especially as the Federal Reserve seems intent on raising short-term rates for the foreseeable future. Higher rates increase borrowing costs, pinching corporate profits.
Investors may want to shift out of momentum and into more defensive stocks -- companies that aren't as expensive and also pay healthy, stable dividends.
Continued worries about a slowdown in China's economy -- especially as trade tension with the United States has escalated -- were also dragging down the broader market.

What's so embarrassing as I read this? I thought Trump was elected about 2 years ago. Turns out he was elected a decade ago.

 

[Allandavid]

800+/3+% loss on the DOW.

Your timing is immaculate Bob...

 

[jgarden]

Who gets the credit for today's stock market Obama or Trump?

If Presidents could actually control the stock market, then why would they allow economic downturns and recessions during their time in office - given that the inevitable result is for the electorate to vote that occupant of the White House and the ruling political party out of power!

 

[Mountainmanbob]

Slight correction.
M-Bob

 

[KCfromNC]

Please indicate where the “skyrocketing” takes place...

Any graph will do...

It's obviously that flat part in 2018.

 

[Yekcidmij]

Who gets credit for the stock market today?

Isn't it typical for the President and his party to claim credit for good stock returns while their opponents shift credit, and their opponents to place blame for bad stock returns while the President and their party shift blame?

In reality, Presidents have very little, if anything at all, to do with the stock market. Nor is the stock market to be confused with "the economy." Nor do Presidents control the economy in some manner. The stock market is it's own animal whose unpredictable movements will try to be exploited by politicians.

It's entertaining to watch though. Trump supporters will claim credit for high stock returns, but when stocks move down, it's "a correction" or "the Fed" or <insert the scapegoat here>. The mistake is to associate the President with stock movements, but the temptation to make that mistake is irresistible when times are good.

 

[Mountainmanbob]

In reality, Presidents have very little, if anything at all, to do with the stock market. Nor is the stock market to be confused with "the economy."

Nor do Presidents control the economy in some manner. The stock market is it's own animal whose unpredictable movements will try to be exploited by politicians.

Very little if anything at all?

Okay but, my question would be?

Why did my best friend a stock investor and our stock broker and my two brothers who have hundreds of employees yearn for the day that Obama would be out of office and hoped and prayed that Trump would get into office and now they are very pleased and all seem to be prospering?

I just can't knock results, especially when seen up close.

M-Bob

 

[Belk]

Google or Breitbart, since the tech crash happened after BB posted the censorship document leak last night, which shows Google flat out admitting that they are moving towards censorship due to things like Trump getting elected.

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[USincognito]

Yes we can and probably should apply it to him, seeing as how he was a lifelong Democrat until he changed his label.

No wasn't! He was always a Republican! We have always been at peace with East Asia.

 

[AirPo]

Post hoc ergo propter hoc is a fallacy dude. The tech crash also happened the day after I bought a new car. However the idea that anything from Breitbart could have this kind of impact I'm putting in a new category, the "you have to be kidding me that's a fantasy" fallacy.

Computer trading programs all have a BB parameter included in their algorithms.

 

[Yekcidmij]

Very little if anything at all?

Okay but, my question would be?

Why did my best friend a stock investor and our stock broker and my two brothers who have hundreds of employees yearn for the day that Obama would be out of office and hoped and prayed that Trump would get into office and now they are very pleased and all seem to be prospering?

I'm not sure who those people are or what their evidence is to support a claim that the person in the Executive Office has not only a high correlation with stock market movements, but that such a correlation is also causal. But if you have some evidence, feel free to share. There have been studies to support my claim in any case.

https://www.princeton.edu/~mwatson/papers/Presidents_Blinder_Watson_Nov2013.pdf
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.203.1174&rep=rep1&type=pdf

This makes sense when you think about it. The President's most important powers are appointments to offices (and even here Senate confirmation is needed) and vetoing. They really can't do much in terms of setting the course of the economy. I wouldn't say that they CANT have an effect, but just that they don't. For example, I suppose if the President did something like wage, capital, currency and price controls, such a thing would have a significant effect, so it's not that they can't. I tend to think that there will be an effect from tariffs, though I don't know the degree.

I just can't knock results, especially when seen up close.

This is what's in question though.

 

[Rion]

Breitbart is a joke, but even jokes get exclusives sometimes. An 80 page document from a media giant that results in a massive outcry for more regulations is going to spook the market.

 

[Rion]

Why don't we see what experts are saying:
Dow falls 832 points as techs get hit hard - CNN

What's so embarrassing as I read this? I thought Trump was elected about 2 years ago. Turns out he was elected a decade ago.

Yes, but Google was down more than the index